Daiwa Securities Group Inc. Sells 3,215 Shares of Sunstone Hotel Investors, Inc. (NYSE:SHO)

Daiwa Securities Group Inc. trimmed its holdings in Sunstone Hotel Investors, Inc. (NYSE:SHO) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,004 shares of the real estate investment trust’s stock after selling 3,215 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Sunstone Hotel Investors were worth $676,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SHO. Rush Island Management LP boosted its holdings in Sunstone Hotel Investors by 30.3% in the 3rd quarter. Rush Island Management LP now owns 9,579,732 shares of the real estate investment trust’s stock valued at $89,570,000 after purchasing an additional 2,225,579 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Sunstone Hotel Investors by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,817,209 shares of the real estate investment trust’s stock valued at $35,691,000 after buying an additional 101,795 shares during the period. The Manufacturers Life Insurance Company grew its position in Sunstone Hotel Investors by 0.9% during the third quarter. The Manufacturers Life Insurance Company now owns 3,044,685 shares of the real estate investment trust’s stock worth $28,468,000 after buying an additional 26,848 shares in the last quarter. Tributary Capital Management LLC increased its stake in Sunstone Hotel Investors by 11.9% during the fourth quarter. Tributary Capital Management LLC now owns 1,338,167 shares of the real estate investment trust’s stock valued at $14,359,000 after acquiring an additional 142,105 shares during the period. Finally, Panagora Asset Management Inc. raised its holdings in Sunstone Hotel Investors by 19.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 1,072,133 shares of the real estate investment trust’s stock valued at $10,024,000 after acquiring an additional 171,238 shares in the last quarter. Institutional investors and hedge funds own 99.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com upgraded Sunstone Hotel Investors from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Truist Financial boosted their price target on shares of Sunstone Hotel Investors from $12.00 to $13.00 and gave the company a “hold” rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.00.

Sunstone Hotel Investors Price Performance

Shares of SHO stock opened at $10.29 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.03 and a quick ratio of 7.03. The stock’s fifty day simple moving average is $10.95 and its 200 day simple moving average is $10.47. Sunstone Hotel Investors, Inc. has a one year low of $8.61 and a one year high of $11.59. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 4.12 and a beta of 1.21.

Sunstone Hotel Investors (NYSE:SHO) last issued its earnings results on Friday, February 23rd. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.16 by $0.44. The company had revenue of $219.20 million for the quarter, compared to the consensus estimate of $192.56 million. Sunstone Hotel Investors had a net margin of 20.95% and a return on equity of 11.32%. The firm’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.26 EPS. On average, analysts expect that Sunstone Hotel Investors, Inc. will post 0.85 earnings per share for the current fiscal year.

Sunstone Hotel Investors Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend was Wednesday, March 27th. Sunstone Hotel Investors’s dividend payout ratio (DPR) is currently 27.96%.

About Sunstone Hotel Investors

Sunstone Hotel Investors, Inc is a lodging real estate investment trust ("REIT") that as of the date of this release owns 14 hotels comprised of 6,675 rooms, the majority of which are operated under nationally recognized brands. Sunstone's strategy is to create long-term stakeholder value through the acquisition, active ownership, and disposition of well-located hotel and resort real estate.